Daily Summary of Baltic Exchange Dry Indices 12.apr.07

Daily Summary of Baltic Exchange Dry Indices

12 April 2007

Baltic Exchange Dry Index TM 5546 (DOWN 10)

Baltic Exchange Capesize Index TM 7990 (DOWN 96)

Baltic Exchange Panamax Index TM 5248 (UP 22)

Baltic Exchange Supramax Index TM 3577 (UP 30)

Baltic Exchange Handysize Index TM 1785 (UP 11)

Daily Summary of the Baltic Exchange Time Charter Routes

Rate($/Day) Change

BCI Average of the T/C routes $92965 (DOWN 1325)

BPI Average of the T/C routes $42399 (UP 175)

BSI Average of the T/C routes $37397 (UP 304)

BHSI Average of the T/C routes $26154 (UP 139)

Baltic Exchange Capesize Index 7990 (DOWN 96)

Route Number Description Weighting Average Movement

C2 160000lt Tubarao -Rotterdam 10 27.425 -0.065

C3 150000mt Tubarao - Beilun/Baoshan 15 45.959 -0.255

C4 150000mt Richards Bay - Rotterdam 5 24.300 -0.275

C5 150000mt W Australia - Beilun/Baoshan 15 19.660 -0.385

C7 150000mt Bolivar - Rotterdam 5 28.155 -0.065

C8_03 172000mt Gibraltar/Hamburg trans Atlantic RV 10 103450 -690

C9_03 172000mt Continent/Mediterranean trip Far East 5 113682 -1295

C10_03 172000mt Pacific RV 20 89864 -1981

C11_03 172000mt China/Japan trip Mediterranean/Cont 5 64864 -1331

C12 150000mt Gladstone - Rotterdam 10 32.459 -0.236

Average of the T/C Routes 92965 -1325

Baltic Exchange Panamax Index 5248 (UP 22)

Route Number Description Weighting Average Movement

P1A_03 74000mt Transatlantic RV 25 43663 153

P2A_03 74000mt SKAW-GIB/FAR EAST 25 46125 305

P3A_03 74000mt Japan-SK/Pacific/RV 25 41743 71

P4_03 74000mt FAR EAST/NOPAC/SK-PASS 25 38066 171

Average of the T/C Routes 42399 175

Baltic Exchange Handysize Index 1785 (UP 11)

Route

Number Description Weighting Average Movement

HS1 Skaw - Passero trip Recalada - Rio de Janeiro 12.5 21250 114

HS2 Skaw - Passero trip Boston - Galveston 12.5 22079 100

HS3 Recalada - Rio de Janeiro trip Skaw - Passero. 12.5 35931 218

HS4 US Gulf trip via US Gulf or NCSA to Skaw - Passero 12.5 30961 750

HS5 SE Asia trip via Australia to Singapore - Japan 25 25493 -36

HS6 S Korea - Japan via NOPAC to Singapore-Japan 25 24014 3

Average of the T/C Routes 26154 139

Baltic Exchange Supramax Index 3577 (UP 30)

Route

Number Description Weighting Average Movement

S1A Antwerp - Skaw Trip Far East 12.5 37616 202

S1B Canakkale Trip Far East 12.5 36463 253

S2 Japan - SK / NOPAC or Australia rv 25 36744 248

S3 Japan - SK Trip Gib - Skaw range 25 35918 275

S4A US Gulf - Skaw-Passero 12.5 50953 808

S4B Skaw-Passero - US Gulf 12.5 28825 130

Average of the T/C Routes 37397 304

S6 Jpn-SK trip via Aus/India 0 38111 281